AFC Gamma (NASDAQ:AFCG) Upgraded at Zacks Research

AFC Gamma (NASDAQ:AFCG) was upgraded by equities research analysts at Zacks Research to a “hold” rating in a report issued on Thursday,Zacks.com reports.

Several other brokerages have also recently weighed in on AFCG. Weiss Ratings reaffirmed a “sell (d)” rating on shares of AFC Gamma in a report on Wednesday, October 8th. Alliance Global Partners downgraded AFC Gamma from a “buy” rating to a “hold” rating and set a $4.50 price target for the company. in a research note on Friday, August 15th. Four investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, AFC Gamma presently has an average rating of “Reduce” and a consensus target price of $5.75.

AFC Gamma Stock Performance

NASDAQ AFCG traded up $0.03 during trading on Thursday, reaching $3.13. The company’s stock had a trading volume of 99,873 shares, compared to its average volume of 148,106. The firm has a 50 day moving average price of $3.73 and a 200 day moving average price of $4.42. AFC Gamma has a 12 month low of $3.04 and a 12 month high of $9.93. The firm has a market capitalization of $70.71 million, a price-to-earnings ratio of -3.01 and a beta of 1.02. The company has a current ratio of 3.04, a quick ratio of 3.13 and a debt-to-equity ratio of 0.13.

AFC Gamma (NASDAQ:AFCG) last announced its earnings results on Wednesday, November 12th. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.03). AFC Gamma had a positive return on equity of 8.45% and a negative net margin of 70.46%.The business had revenue of ($3.18) million for the quarter, compared to the consensus estimate of $6.55 million. As a group, equities analysts anticipate that AFC Gamma will post 1.64 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Daniel Neville bought 12,388 shares of the company’s stock in a transaction on Monday, September 8th. The stock was purchased at an average cost of $4.44 per share, for a total transaction of $55,002.72. Following the completion of the transaction, the chief executive officer owned 209,649 shares of the company’s stock, valued at $930,841.56. This trade represents a 6.28% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Leonard M. Tannenbaum purchased 330,127 shares of the business’s stock in a transaction dated Wednesday, August 27th. The shares were purchased at an average cost of $4.81 per share, for a total transaction of $1,587,910.87. Following the completion of the purchase, the director directly owned 4,665,150 shares of the company’s stock, valued at approximately $22,439,371.50. This represents a 7.62% increase in their position. The SEC filing for this purchase provides additional information. Insiders bought a total of 1,030,683 shares of company stock valued at $4,590,274 over the last quarter. 25.10% of the stock is owned by corporate insiders.

About AFC Gamma

AFC Gamma, Inc originates, structures, underwrites, and invests in senior secured loans, and other various commercial real estate loans and debt securities for established companies operating in the cannabis industry. It primarily originates loans structured as senior loans secured by real estate, equipment, and licenses and/or other assets of the loan parties to the extent permitted by applicable laws and the regulations governing such loan parties.